Massmart's Sales Ahead of Expectations

South African retailer Massmart has reported that sales for the 26 weeks to December 24 rose by 16.4% to ZAR18bn (US$2.65bn), which it said was ahead of expectations across all divisions. Like-for-like sales - which don't take into account the impact of new stores - were up by 11.9%. The most impressive growth was from the Massdiscounter network, which grew by 17.2%, while the division's wholesale cash-and-carry outlets grew

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